{"id":83338,"date":"2025-03-06T13:31:59","date_gmt":"2025-03-06T05:31:59","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=83338"},"modified":"2025-03-06T16:54:30","modified_gmt":"2025-03-06T08:54:30","slug":"revised-absd-remission","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/revised-absd-remission\/","title":{"rendered":"Will the revised ABSD Remission lead to an en bloc sales surge?"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\r\n<p><span style=\"font-weight: 400;\">Housing developers working on large and complex projects now have more time to sell their units. Under the revised <a href=\"https:\/\/www.99.co\/singapore\/insider\/additional-buyers-stamp-duty-absd\/\" target=\"_blank\" rel=\"noreferrer noopener\">Additional Buyer\u2019s Stamp Duty (ABSD)<\/a> remission scheme, <\/span><b>developers will receive a sales deadline extension of six months to a year<\/b><span style=\"font-weight: 400;\">. This change, announced by Minister for National Development Desmond Lee on March 5, 2025, aims to provide greater flexibility for developers handling large-scale urban transformations.<\/span><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\">\r\n<h3>Table of contents<\/h3>\r\n<ul>\r\n<li><a href=\"#h-eligibility-criteria-for-the-absd-extension\" data-level=\"3\">Eligibility criteria for the ABSD extension<\/a><\/li>\r\n<li><a href=\"#h-current-absd-regime-and-changes\" data-level=\"3\">Current ABSD regime and changes<\/a><\/li>\r\n<li><a href=\"#h-what-are-the-implications-of-the-revised-absd-remission\" data-level=\"3\">What are the implications of the revised ABSD remission?<\/a><\/li>\r\n<li><a href=\"#h-will-we-see-more-en-bloc-sales-due-to-the-nbsp-revised-nbsp-absd-remission\" data-level=\"3\">Will we see more en bloc sales due to the\u00a0 revised\u00a0 ABSD remission?<\/a><\/li>\r\n<\/ul>\r\n<\/div>\r\n\r\n\r\n\r\n<h3 id=\"h-eligibility-criteria-for-the-absd-extension\" class=\"wp-block-heading\"><b>Eligibility criteria for the ABSD extension<\/b><\/h3>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Not all projects qualify for this extension. Only developments that meet specific ABSD remission eligibility criteria will benefit. These include:<\/span><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li><b>Large <a href=\"https:\/\/www.99.co\/singapore\/glossary\/en-bloc\/\" target=\"_blank\" rel=\"noreferrer noopener\">en bloc<\/a> redevelopments<\/b><span style=\"font-weight: 400;\"> that:<\/span>\r\n<ul class=\"wp-block-list\">\r\n<li><span style=\"font-weight: 400;\">Will yield at least 700 new units upon completion, or<\/span><\/li>\r\n\r\n\r\n\r\n<li><span style=\"font-weight: 400;\">Contain at least 1.5 times the number of homes in the previous development.<\/span><\/li>\r\n<\/ul>\r\n<\/li>\r\n\r\n\r\n\r\n<li><b>Projects with complex technical or infrastructure requirements<\/b><span style=\"font-weight: 400;\">, such as:<\/span>\r\n<ul class=\"wp-block-list\">\r\n<li><span style=\"font-weight: 400;\">Developments integrated with major public transport facilities.<\/span><\/li>\r\n\r\n\r\n\r\n<li><span style=\"font-weight: 400;\">Those requiring extensive conservation efforts.<\/span><\/li>\r\n<\/ul>\r\n<\/li>\r\n\r\n\r\n\r\n<li><b>Strategic Development Incentive (SDI) projects.<\/b><\/li>\r\n\r\n\r\n\r\n<li><b>Projects using innovative construction technologies<\/b><span style=\"font-weight: 400;\"> to improve productivity.<\/span><\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Developments falling into just one of these categories will get a 6-month extension. However, if a project meets multiple criteria, it will qualify for a full one-year extension. This adjustment applies only to residential land acquired on or after March 6, 2025.<\/span><\/p>\r\n\r\n\r\n\r\n<h3 id=\"h-current-absd-regime-and-changes\" class=\"wp-block-heading\"><b>Current ABSD regime and changes<\/b><\/h3>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Under the existing ABSD regime, developers must adhere to strict deadlines:<\/span><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li><span style=\"font-weight: 400;\">Construction must begin within 2 years.<\/span><\/li>\r\n\r\n\r\n\r\n<li><span style=\"font-weight: 400;\">All units must be completed and sold within 5 years.<\/span><\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">The ABSD payable by developers remains at 40% of the land price, with:<\/span><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li><b>5% paid upfront<\/b><span style=\"font-weight: 400;\">, which is non-refundable.<\/span><\/li>\r\n\r\n\r\n\r\n<li><b>35% remittable<\/b><span style=\"font-weight: 400;\">, provided at least 90% of units are sold within 5 years.<\/span><\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Previously, developers had to sell 100% of units within the given timeline. The policy change introduced in the February 2024 Budget lowered this threshold, making it slightly easier for developers to obtain ABSD remission in Singapore.<\/span><\/p>\r\n\r\n\r\n\r\n<p><iframe loading=\"lazy\" style=\"border: none; width: 350px !important; box-shadow: 0px 2px 12px rgb(11 17 52 \/ 15%); border-radius: 16px;\" src=\"https:\/\/www.99.co\/property-value-widget?contentSource=insider-blog&amp;contentId=the-arden-sale-units\" width=\"350\" height=\"370\" scrolling=\"no\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><\/span><\/iframe><\/p>\r\n\r\n\r\n\r\n<h3 id=\"h-what-are-the-implications-of-the-revised-absd-remission\" class=\"wp-block-heading\"><b>What are the implications of the revised ABSD remission?<\/b><\/h3>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">This extension provides much-needed flexibility for developers, reducing risks associated with large-scale projects. Mega developments, in particular, benefit from additional time to offload units, which is crucial given the scale and complexity of such ventures.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Older estates such as <\/span><a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/braddell-view\" target=\"_blank\" rel=\"noreferrer noopener\">Braddell View<\/a> and <a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/pine-grove\" target=\"_blank\" rel=\"noreferrer noopener\">Pine Grove<\/a><span style=\"font-weight: 400;\"> could take this opportunity to revisit en bloc attempts. These sites have the potential to introduce approximately 2,000 new homes. However, selling out such large projects within the extended 6- to 12-month timeframe may still prove difficult.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">As a whole, the longer sales timeline might ease pressure on developers and their financial backers, providing more breathing room in an otherwise competitive market.<\/span><\/p>\r\n\r\n\r\n\r\n<h3 id=\"h-will-we-see-more-en-bloc-sales-due-to-the-nbsp-revised-nbsp-absd-remission\" class=\"wp-block-heading\"><b>Will we see more en bloc sales due to the\u00a0<\/b><b>revised\u00a0<\/b><b>ABSD remission?<\/b><\/h3>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">While some analysts think the ABSD remission could result in an en bloc market boost, especially for large collective sales, <a href=\"https:\/\/www.businesstimes.com.sg\/property\/developers-get-extended-absd-remission-deadline-big-en-bloc-rebuilds-and-complex-urban\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">others believe a sharp increase in en bloc sales is unlikely remain due to several factors<\/a>:\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li><span style=\"font-weight: 400;\">High redevelopment costs.<\/span><\/li>\r\n\r\n\r\n\r\n<li><span style=\"font-weight: 400;\">A significant number of upcoming private housing units already in the pipeline.<\/span><\/li>\r\n\r\n\r\n\r\n<li><span style=\"font-weight: 400;\">Potential policy shifts that may introduce new challenges.<\/span><\/li>\r\n\r\n\r\n\r\n<li><span style=\"font-weight: 400;\">The success of an en bloc sale still <a href=\"https:\/\/www.99.co\/singapore\/insider\/what-are-en-bloc-sales\/\" target=\"_blank\" rel=\"noreferrer noopener\">depends on price negotiations between buyers and sellers<\/a>, which are often difficult to resolve.<\/span><\/li>\r\n\r\n\r\n\r\n<li>Foreign buyers in prime areas face a 60% ABSD, reducing demand for high-end en bloc projects.<\/li>\r\n\r\n\r\n\r\n<li>High asking prices for collective sales make it difficult for developers to secure profitable deals. In contrast, state land supply remains competitively priced<span style=\"font-weight: 400;\">, making <a href=\"https:\/\/www.99.co\/singapore\/glossary\/government-land-sales-gls-programme\/#:~:text=The%20Government%20Land%20Sales%20(GLS)%20Programme%20is%20essential%20to%20implementing,Long%2DTerm%20and%20Master%20Plans.\" target=\"_blank\" rel=\"noreferrer noopener\">Government Land Sales (GLS) programmes<\/a> a more attractive alternative for developers.<\/span><\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Overall, the ABSD remission changes are a step toward easing market pressures but are unlikely to trigger a major en bloc resurgence. However, for developers handling large-scale projects, the additional time offers a strategic advantage in navigating our ever-changing property landscape.<\/span><\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Housing developers working on large and complex projects now have more time to sell their units. Under the revised Additional Buyer\u2019s Stamp Duty (ABSD) remission scheme, developers will receive a sales deadline extension of six months to a year. This change, announced by Minister for National Development Desmond Lee on March 5, 2025, aims to&hellip;<\/p>\n","protected":false},"author":141,"featured_media":83342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"no","_lmt_disable":"no","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53601,53593,57131],"tags":[53667,54072,53943],"persona":[57126,57128],"class_list":{"2":"type-post","15":"entry","16":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Will the revised ABSD Remission lead to an en bloc sales surge? - 99.co<\/title>\n<meta name=\"description\" content=\"Under the revised ABSD remission scheme, developers will receive a sales deadline extension of six months to a year. 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